Why Economic Development?
There are many economic indicators a city can analyze to determine its health, and one is payroll employment. Since 2010, Atlanta’s percentage growth in payroll employment is 18.7% (Bureau of Labor Statistics). Only five other cities grew faster than Atlanta by this indicator. For me, this is a good sign of vibrancy found in the city.
And yet, we cannot rest on one indicator when there are more than 19,300 cities in the nation, all competing to bring good jobs and increased investment. If cities want to be competitive in the 21st century, they need to make a deliberate effort to create programs and initiatives that drive job creation/retention, increase investment, expand quality of life and broaden the tax base. Not only will these overarching strategies put the city and all its citizens on course for a better future, they will also provide some level of influence over the many economic cycles inherent to a capitalist economy.
The challenge—and opportunity—is to create programs that are innovative and relevant to the current and future economy. This is no easy task, but it’s one to which Invest Atlanta is committed. It means finding ways to impact transportation, education, workforce, big data and workforce housing in ways that drive economic growth. I plan to explore many of these topics in my future posts.
Lastly, I’m pleased to welcome you to our new blog site, IA Insight. Here you will find Invest Atlanta’s latest economic and community development news, so be sure to check back for updates. I hope you enjoy it.
I am IA!